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Terra founder Daniel Shin appears in court

Terraform Labs co-founder Shin Hyun-Seong (Daniel Shin) was questioned in court on March 30.

By Luc Vesters
• 2 min read
Terra founder Daniel Shin appears in court

Terraform Labs co-founder Shin Hyun-Seong (Daniel Shin) was questioned in court on March 30. Local media say Shin was grilled with several questions related to Terra's collapse.

According to fnnews, Shin did not say whether he was aware of Terra Luna's potential collapse or whether he contacted Terraform Labs CEO Do Kwon after leaving the country. Earlier, the Joint Investigative Team for Financial and Securities Crimes of the Seoul Southern District Prosecutor's Office requested an arrest warrant for Shin, among other charges for violating the Capital Markets Law.

He was also said to have earned more than $100 million in profits by holding Luna tokens issued before the company was founded and selling them when the price spiked. On March 23, Terra chief Do Kwon was arrested in Montenegro. In the meantime, the United States and South Korea are wrangling over extradition.

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